Polymer Modified Bitumen (PMB) Market Analysis

Polymer Modified Bitumen Market Analysis

On the basis of product, PMB market can be segmented into three major categories, namely, thermoplastic elastomers, thermoplastic polymers, thermosetting polymers. Owing to the heat and UV rays resistance paired with superior elasticity, thermoplastic elastomers see huge industry demand in coming years with a major chunk of the overall PMB market share. The product is most commonly used component in the PMB market due to its superior qualities and relatively lower price.
 

The thermoplastic polymer segment holds over a fifth of the entire PMB market share owing to its varied properties such as storage stability, temperature stability and rutting resistance. The product is comparatively less popular due to its inelastic properties, brittleness and high rigidity. The thermosetting polymers is sub divided into four sub-categories namely, epoxy, polyurethane, acrylic and phenolic resins. These resins have piacular properties and harden or solidify when heated or added with external hardeners.
 

The PMB market application is bifurcated into three major categories which include road construction, roofing & piping and emulsions. Increase in the number of vehicle usage leading to traffic is fueling the needs for better and wider road construction in the developing countries. Rising disposable income of consumers in these economies coupled with spending on automobile is creating a demand for superior quality roads and better infrastructure. Also, heavy and bulky goods transportation is carried out through roadways on a large scale resulting in need for sustainable heavy-duty roads.
 

Increasing population in the developing countries is demanding better housing, infrastructural and road facilities. Increasing standard of living paired with rising disposable income is allowing people to buy new homes and indulge into reconstruction activities using eco-friendly and superior quality material. Due to the waterproofing and cohesive properties exhibited by PMB, it finds extensive use in roofing and piping activities which helps prevent wall and ceiling wetness and leakages.
 

Based on the region, North America holds over a quarter share of the entire PMB market owing to increasing use of vehicles and road building industry. The construction industry in this region is at a mature stage and will see growth at a sluggish pace in the forecast period. Presence of huge automobile industry players in this region coupled with a higher disposable income allows people to spend more on vehicles with superior features and quality.
 

Asia Pacific is said to have one of the fastest growing PMB market owing to huge construction activities taking place in this region. Huge economies like China and India have a vast population with increasing GPD and purchasing power. Housing demand in these regions is growing over the past years resulting in new and enormous construction projects that are undertaken by the government and private players. These factors are driving the PMB market in the Asia Pacific region and will foresee potential growth in the coming years.